Tokyo stocks snap winning streak as investors take profits-Xinhua

Tokyo stocks snap winning streak as investors take profits

Source: Xinhua

Editor: huaxia

2024-02-28 16:37:00

TOKYO, Feb. 28 (Xinhua) -- Tokyo stocks closed lower on Wednesday amid profit-taking sales as investors locked in gains after major indices hit record highs.

Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, went down by 31.49 points, or 0.08 percent, from Tuesday to close the day at 39,208.03.

The broader Topix index, meanwhile, finished 3.51 points, or 0.13 percent, lower at 2,674.95.

Analysts here pointed out that the market lacked direction with no new trading cues in sight, while mixed performance was seen in the semiconductor sector. Laser Tech and Screen fell, while Tokyo Electron and Advantest gained.

In the meantime, investors showed interest in stocks that had previously seen significant declines following recent earnings announcements, supporting the lower end of the market.

On the Prime Market, decliners were led by miscellaneous products, marine transportation and rubber product shares.

Issues that advanced outpaced those that declined by 906 to 698, while 47 ended the day unchanged.